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CybeRelease: (OTC: AMZB) Gets Former Bear Stearns Director As Financial Advisor


(CybeRelease, August 17, 2006) - Lake Harmony, PA - Amazon Biotech, Inc. (OTC BB: AMZB.OB - News) (Frankfurt: B2D.F - News) today announced that it has signed a Letter of Agreement with Rohit Phansalkar to serve as Business and Financial Advisor to help improve the structure and capital position of the Company.

Mr. Phansalkar, who earned his MBA from Harvard Business School, comes to Amazon in the midst of a long and distinguished career on Wall Street, having served as a Managing Director and Head of the Energy Finance Group at Oppenheimer & Co., Partner and Co-Head of the Energy Finance Group at Shearson American Express and Managing Director at Bear Stearns & Co. Mr. Phansalkar has also served as the Chairman & CEO of Osicom Technologies, Chairman of The India Fund, Vice Chairman and CEO of Newbridge(India), and as a Director of several companies.

As an Investment Banker, Mr. Phansalkar has originated, structured and completed numerous mergers and acquisitions, while also arranging debt and equity financing transactions, including private equity transactions.

Dr. Mechael Kanovsky, President of Amazon Biotech, said, “We are pleased to have someone of Mr. Phanshalker’s stature and experience become the Financial Advisor to Amazon Biotech. We look forward to benefiting from his business acumen and investment banking expertise.”

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CybeRelease Gainers are CDC Corporation (Nasdaq: CHINA), PMC - Sierra, Inc. (Nasdaq: PMCS), IAC/InterActiveCorp (Nasdaq: IACI), China Medical Technologies, Inc. (Nasdaq: CMED), C-COR Incorporated (Nasdaq: CCBL), Daktronics, Inc. (Nasdaq: DAKT), Nyer Medical Group, Inc. (Nasdaq: NYER) and Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA).

CybeRelease Decliners are Citi Trends, Inc. (Nasdaq: CTRN), Aeroflex Incorporated (Nasdaq: ARXX), Tom Online Inc. (Nasdaq: TOMO), Linktone Ltd. (Nasdaq: LTON), Marvell Technology Group, Ltd. (Nasdaq: MRVL), OmniVision Technologies, Inc. (Nasdaq: OVTI), Network Appliance, Inc. (Nasdaq: NTAP) and BEA Systems, Inc. (Nasdaq: BEAS).

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